It varies. Morning fades come and go. Some days I just wait to see if there is a downturn and look at the general market trend. Some days the price just builds all day long so I just stay on the sidelines and once in awhile initiate a short position at the end of such days. I actually thrive on waiting until the next morning to watch how the futures are going. That prepares me for strategy for the day.

I rarely jump in to play an upward momentum on the long side, but I do on occasion. It always amazes me though that longs can't tell when a good selling point is. They get emotionally attached to their shares. Its that psychology that I exploit. It really works both ways, but I feel a whole lot less attachment to my short positions.

I generally am happy if I can get 50% of a day's move. When we get to a long term high like this week, I am content to wait out a major downturn, but I think the longest I have ever kept a short position was about two weeks. I like to clear my positions before the weekend, so I sometimes cover on Thursday, and if the market doesn't cooperate, I'll hold my position through the weekend. But I generally like to start fresh at the beginning of the week.

I have a certain target amount of profit for any given week, which I consider good enough. Knowing when to take profits is the key though. Its a whole lot better feeling knowing I just took a profit but maybe could have gotten more if I had waited a bit, than getting stuck in a losing position. Lots of small profits add up to big ones.

Right now the futures are point down an the AL just won the Series, but I have no clue what that means... Glad I didn't bet on the Phillies, though i LIKE them a whole lot more than the Yankees. Good Luck!